Entrepreneurship


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5-EntrepreneurshipInternLores

Taking 
risks
actively willing to take risks to achieve 
the goals of the farm business
Knowledge
Understand the risk for each decision
Know how to evaluate risks
Skills
Analyse and weigh the risks in terms of 
costs and benefits
Develop risk management strategies
Behaviour
Calculate the risks involved
Pursue risk mitigating measures
Learn from failures or mistakes
Adapt to risks and adopt new strategies 
flexibility & 
adaptability
Readily adapts to new and changing 
situations
Knowledge
Aware of the changes affecting the farm 
business
Skills
Generate creative ideas 
Analyse situations and develop coping 
strategies 
Locate new sources of resources and 
information
Behaviour
Highly motivated to achieve goals
Do not easily give up; not put off by 
setbacks
Patient, cope with stress
flexibility and adaptability: Farming is in a constant 
state of change. Farmer-entrepreneurs readily adapt to 
these changes. They are aware of the changes and are 
quick in finding ways to meet them and take immediate 
action. They are not put off by setbacks.
Farmer-entrepreneurs 
readily adapt  
to changes


Entrepreneurial qualities 
57
flexibility & 
adaptability
Readily adapts to new and changing 
situations
Knowledge
Aware of the changes and risk affecting  
the farm business
Skills
Analyse situations and develop long-term 
strategies  
Find ways of realising the goals
Behaviour
Create a vision of the farm business 
Set goals
Develop strategies to achieve them 
Interpersonal 
abilities
The ability to work with others; 
especially those who are different.
Knowledge
Understand people and how they work
Understand relationships and when they 
are strong or weak 
Skills
Open two-way communication
Share and encourage others to share
Behaviour
Work well with people of all kinds
Honest and trustworthy
Strategic thinking: Farmer-entrepreneurs have a vision 
of their business and strategies for achieving its goals 
in a sustainable way. They are aware of the importance 
of  meeting  longer-term  objectives  –  not  just  address 
immediate problems. 
Interpersonal abilities: Farmer-entrepreneurs understand 
that their success often rests in the hands of other people. 
So they recognise the need to work with others. They 
are good communicators; they openly share information, 
and  they  actively  listen  to  those  around  them.  Above 
all, they are honest and trustworthy when working with 
others and in all their business dealings.
Farmer-entrepreneurs 
are good 
communicators  
and trustworthy
Farmer-entrepreneurs 
have a vision of their 
long-term objectives


58                                                  
Entrepreneurship in farming
Networking Establish effective partnerships and 
relationships
Knowledge
Know who the key stakeholders and 
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